If you set up a withdrawal schedule of Substabtiually Equao Payments (SEP), the penalties go away (but not the daxes). I would think long and hard before using it. ITs been years since I did the pros and cons, but it is not flexable. The IRS is lurking out there if you should make a mistake. In seven years you can marry , or get a divorce. Your income/expense stream could change a lot. You are locked in. its been a lot of years since I looked at SEP's, maybe things have changed.Should the market take a big hit, the same year you start withdrawals, you have taken a big chunk of earning life out of your IRA.Your IRA could double in 7 years, if you make a the right bridge account.Sally
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. M